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Act global, think central Switzerland – interview with Marco Arnold
Article published in Luzerner Zeitung, 24 June 2024
At the end of June, Private Bank Lombard Odier, founded in 1796, is moving into its new premises in Zug. The Group has been present in the region since August 2023, a move that has served to increase the Bank’s presence in central Switzerland.
28 June is a special day for owner-managed Bank Lombard Odier: from this date, clients will be able to benefit from advice on all issues related to wealth management, investment advisory and asset planning from the 13-member team in the Bank’s new office at Bundesplatz 1 in Zug.
Run by its owners with a strong capital base
Bank Lombard Odier was founded in Geneva 228 years ago, and has been present in German-speaking Switzerland for over 35 years. The Swiss private bank specialises in investment advisory and wealth management, and has a global presence in 19 countries around the world. Lombard Odier reflects the strengths of a bank that is run by the people who own it: the equity ratio is 32%, twice that required by the regulators. The word debt is not part of its vocabulary; as a bank run and managed by its owners, it is solely and exclusively focussed on the interests of its clients. This means Bank Lombard Odier is, and will remain, a safe haven for its clients’ investments and wealth management.
Read also: Lombard Odier opens its seventh Swiss office in Zug
Deep roots in central Switzerland
Its presence in central Switzerland allows Lombard Odier to remain close to its clients in this part of the country. The Bank is familiar with their needs and offers a personalised service with cutting-edge technological solutions. A glance at the breakdown of clients in central Switzerland shows they are mainly wealthy individuals (often executives) and families, frequently with their own company; the balance between Swiss and foreign clients is 50/50. But the key element for a private bank is individualised service; the wealth management approach is based on personal relationships. The bankers understand their clients’ personal and professional circumstances and their individual and financial objectives. It is important to them to know their clients well and to spend time with them to be able to design and implement tailor-made, long-term private banking strategies. Another key feature is transparency: at all times, clients have an overview of strategies, transactions and background money movements related to products.
Read also: Lombard Odier opens Zug office and hires a team of senior bankers
“Offering high-quality, personalised services”
Marco Arnold, Local Managing Director of Lombard Odier’s Zug office, is committed to serving clients’ best interests.
Geneva 228 years ago and Zurich 35 years ago: Zug is now the seventh regional office in Switzerland for Bank Lombard Odier. What tipped things in favour of Zug?
Marco Arnold: Zug is an important financial centre with a rich and diverse ecosystem of entrepreneurs and executives. We believe we are a good fit for central Switzerland and its client base, and can offer high-quality, personalised services and expertise from our new office in Zug. The Bank has been servicing clients in German-speaking Switzerland for decades, but we’ve been doing it from other offices in the country.
What do central Switzerland and Lombard Odier have in common?
If you look at central Switzerland and Zug, there is a sort of shared cultural DNA with Lombard Odier. Zug and Central Switzerland are an important economic hub with the right environment. Our Bank and central Switzerland are highly innovative places that respect both tradition and modernity. Both are melting pots of cultures, companies and people. We can design suitable solutions for individuals and families and their structures when it comes to succession planning. That includes people and companies from outside Switzerland.
Read also: Tax benefits of supplemental pension planning for entrepreneurs
You are the only private bank with a branch office for central Switzerland in Zug. Why is that?
The owners of Bank Lombard Odier have taken the decision to operate directly in central Switzerland with a very experienced and smooth-running team so as to be close to the client base and their ecosystem – accountants, lawyers and officials among them.
What is the minimum level of client assets?
We are a bank that focusses on wealth management and we don’t have rigid processes, so there is no set number. We target clients with high expectations and particular needs. This means that providing our services only makes sense above a certain level. The general rule of thumb in the industry is over one million francs of assets to be managed.
How would you describe your approach?
We are focussed on performance, so we consistently work for the best interests of our clients, with an open investment architecture and fair fees. Our principle is “Think local, act global”, or you could also say: “Act global, think central Switzerland”.
What exactly does it mean to be focussed on performance?
If there is one thing we have learnt over the years, it’s this: if a solution is not tailored to the needs of our clients, it’s not a solution. I am aware that the word “tailored” has been overused in our industry. But that is really what we live by. Our investment solutions achieve very good results within their peer group and we occupy a top position in Swiss private banking. In addition, we focus on investment performance. We want to provide our clients with solid solutions offering high returns.
Important information
This document is issued by Bank Lombard Odier & Co Ltd or an entity of the Group (hereinafter “Lombard Odier”). It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a document. This document was not prepared by the Financial Research Department of Lombard Odier.
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